Multi-level parking venture hits roadblock

Coimbatore: Looks like the much-hyped, much-delayed multi-level car parking project has hit a road block. While the city corporation had called for tenders in September 2017 to implement the project at Town Hall, , not a single bidder has come forward to execute it.
The project was announced in 2011 and had been delayed due to lack of funds. After finding no takers, the civic body officials came up with a new revenue model, according to which, the contractor was asked to fund the entire project and maintain it for 30 years. The contractor could make money from the parking fee and also rent out shops set up under the facilities. But, since the corporation wanted a revenue sharing model, none of the contractors came forward.

“We have discussed the issue with senior officials. We will change the revenue model and call for tenders again. We will have to fund the project and use the state government money to set it up,” corporation commissioner K Vijayakarthikeyan told TOI.

The multi-level car parking project was expected to de-congest the three main commercial roads in the city where parking on the road often caused congestion. As per the detailed project report, the parking lot was to be fully-automatic and accommodate two-wheelers and four-wheelers. As per the tentative design, it would have four levels — first two for two-wheelers and the top two floors for four-wheelers.

Officials said that commercial complexes were also planned to ensure the contractor got enough revenue from the rent and lease money to maintain and operate it. “But, contractors were skeptical as it will take several crores to set up. They were not sure if they could earn it back. A private-public-partnership in which there is investment by both the corporation and the contractor will be more suitable,” said a senior official, adding that they will work out the funding and call for fresh tenders again.

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